20974 29Metals AR23 WEB V1 - Flipbook - Page 84
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29Metals 2023 Annual Report
Directors’ Report continued
29Metals Appendix 4E and Annual Financial Report for 29Metals Limited and its Controlled Entities for the year ended 31 December 2023
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Directors’ Report
Significant Changes in the State of Affairs
There were no significant changes in the state of affairs of the roup during the year ended 31 December 2023.
Subsequent Events
There have not been any events that have arisen in the interval between the end of the financial year and the date of this report or any other item,
transaction or event of a material and unusual nature li ely, in the opinion of the Directors, to materially affect the operations of the roup, the results of
those operations or the state of affairs of the roup, in future financial years.
Environmental Regulation and Performance
29Metals’ operating and exploration activities are subject to environmental regulation in each jurisdiction in which those activities are underta en,
comprising estern Australia and ueensland, in Australia, and Chile (as applicable).
29Metals ta es its responsibilities for environmental stewardship seriously and has management systems and processes in place for environmental
management and performance. 29Metals’ environmental performance is overseen by the Board’s standing Sustainability Committee.
Environmental incidents are reported to management and the Board (directly, and via the Sustainability Committee).
The Company reports its sustainability performance in its ŶŶƵĂů^ƵƐƚĂŝŶĂďŝůŝƚLJΘ^'ZĞƉŽƌƚwhich is published in the Company’s Annual Report to
shareholders in advance of the Annual eneral Meeting. A standalone version of the ŶŶƵĂů^ƵƐƚĂŝŶĂďŝůŝƚLJΘ^'ZĞƉŽƌƚ, incorporating additional data
tables, is published on the Company’s website at: https: www.29metals.com sustainability. The Company’s sustainability reporting is intended to be
aligned to the 'ůŽďĂůZĞƉŽƌƚŝŶŐ/ŶŝƚŝĂƚŝǀĞ reporting framewor .
Reportable environmental incidents during the year ended 31 December 2023 are tabled below (by site).
Reportable
Site
olden rove ( A, Australia)
incidents 1
03
Capricorn Copper ( ld, Australia)
Redhill (Chile)
1.
Nil
Enforcement action 2
Not applicable
▪
Environmental Protection Order (‘WK’) issued in January 2023 in relation to non compliance with
regulated water levels in the Esperanza Pit (the ‘Wŝƚ’) at 1 November 2022
▪
Pre enforcement letter issued in relation to alleged receiving water contaminant levels
▪
Regulatory investigation commenced (refer below)
Not applicable
Reportable incidents exclude administrative notifications and periodic reporting.
2.
Enforcement action as result of reportable incidents.
3.
Enforcement action at olden rove for the reporting period excludes action in relation to the olden rove ROM pad reportable incident (reported in the Directors’
Report for the year ended 31 December 2022. During the Reporting Period, 29Metals submitted an application to increase the capacity and footprint of the olden
rove ROM pad and RD, which application has been approved (subse uent to the Reporting Period).
.
The issue of the January EPO at Capricorn Copper was disclosed in the Director’s Report for the year ended 31 December 2022. nder the EPO, 29Metals was
re uired to ta e certain action to manage water inventory and to cease importing raw water for use in operations if water levels in either the EPit of the Mill Cree
Dam exceeded the prescribed ŵĂdžŝŵƵŵŽƉĞƌĂƚŝŶŐůĞǀĞů(or MO ). The EPO expired on 1 May 2023.
On 30 May 2023, the ueensland Department of Environment, Science and nnovation (‘^/’) (formerly, the Department of Environment and Science),
notified 29Metals that it was underta ing an investigation into the failure to meet the regulated water level in the EPit and certain other matters. The
other matters relate to alleged non compliances during and following the extreme weather event in March 2023, involving alleged breaches of water
uality re uirements for water releases and the alleged release of contaminants (including from sumps and other infrastructure that was damaged or
inundated during the extreme weather event). 29Metals has participated in an interview and provided records to DES in connection with the
investigation. No notification of enforcement action in relation to these matters has been received.
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